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The chart of accounts includes assets, liabilities, and owner's equity accounts only. is it True or False
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Asked 5/22/2013 10:25:51 PM
Updated 7/26/2014 11:00:46 AM
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Flagged by debnjerry [7/26/2014 11:00:05 AM]
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User: The chart of accounts includes assets, liabilities, and owner's equity accounts only. is it True or False

Question
Asked 5/22/2013 10:25:51 PM
Updated 7/26/2014 11:00:46 AM
1 Answer/Comment
Flagged by debnjerry [7/26/2014 11:00:05 AM]
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The chart of accounts includes assets, liabilities, and owner's equity accounts only.
This is FALSE. The chart of accounts also includes revenue and expense accounts.
Added 7/26/2014 11:00:46 AM
This answer has been confirmed as correct and helpful.
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